Ard Financial Group JSC held its AGM via online

Ard Financial Group JSC held its annual general meeting of shareholders virtually last week. Ard Financial Group JSC decided to distribute MNT 1 billion to its shareholders.

Gankhuyag Chairman of Board of Directors of Ard Financial Group JSC said that Ard Financial Group merged with Jinst Uvs company and registered on Mongolian Stock Exchange in August, 2019. Board of Director of the company approved business plan of 2020-2022. The company is aiming to expand its business in Central Asia region.

Also, the company recapitalized Ard Life company by MNT 15 billion. If government would approve draft of law on private pension fund, Ard Life company would be leading company in the sector.

Furthermore, B.Zolboo Chief Financial Officer of Ard Financial Group JSC informed that the company increased its investment to MNT 68.2 billion with regards to IPO of Ard Credit and Ard Life company. As a result, total assets of the company amounted to MNT 78.4 billion in 2019, which rose by 29 percent from previous year. Moreover, its net profit totaled MNT 3.4 billion.

Zolboo added that they aimed to decrease expenses and liabilities of the company. Within the framework of above goal, the company will issue a bond.

Source: Local Newspaper “Today Newspaper”